SHEPHERD KAPLAN KROCHUK, LLC

CIK 0001218583 · Q1 2026

13F Equity AUM

$119.0M

-1.8% QoQ

Positions

-3 QoQ

AUM Rank

#9,394

Top 76%

Skill Alpha (FF)

-3.6%/yr^ns

No Clear Edge

Rank #6,773 · Top 82%

vs S&P -9.1%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 32.9%Top 10: 49.7%Top 20: 72.6%

VTI9.2%

ANGL6.8%

AAPL6.5%

USMV6.0%

SCHV4.3%

JQUA3.8%

ET3.5%

MTUM3.3%

ACWI3.1%

ZROZ3.0%

Others (51)50.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services78.6%

Technology7.0%

Energy6.0%

Consumer Defensive2.0%

Other6.3%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 61Median: 0.85%Avg: 1.64%

0–0.5%

21(7.4%)

0.5–1%

13(10.1%)

1–3%

16(29.9%)

3–5%

7(24.1%)

5%+

4(28.6%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 58Unique: 3vs 20 funds

0.8%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

1.1%

BANK OF AMERICA CORP /DE/

1.2%

1.1%

1.5%

0.7%

VANGUARD CAPITAL MANAGEMENT LLC

0.6%

GEODE CAPITAL MANAGEMENT, LLC

0.5%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.6%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New1Increased13Decreased38Exited4

New Positions

NDQ0.5%

+932

Increased

ET3.5%

+10K(+5%)

MDST0.5%

+8K(+82%)

VTI9.2%

+4K(+13%)

RSP1.1%

+2K(+31%)

NRGV0.2%

+550(+1%)

AMLP0.4%

+159(+2%)

BIV0.9%

+98(+1%)

IBIT0.4%

+65(+0%)

VO2.3%

+25(+0%)

AAPL6.5%

+24(+0%)

Decreased

ANGL6.8%

-14,473(-5%)

PGX1.3%

-10,306(-7%)

JMBS3.0%

-5,470(-6%)

SCHV4.3%

-4,087(-2%)

SPDN1.1%

-3,453(-3%)

DOW0.9%

-2,985(-10%)

CORP2.8%

-2,485(-7%)

GSIE0.3%

-2,133(-19%)

PFE0.8%

-2,118(-6%)

JEPI2.2%

-1,937(-4%)

Exited

INVESCO QQQ TR

-920

-10,714

MSFT

-514

SPGP

-1,797

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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